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Explain the business assets Withdrawal
Withdrawal (Drawing) is removal of business assets for personal use by owner. This transaction decreases the asset taken and value of the business.
Every transaction increases or decreases (or both) fundamental elements in accounting equation.
Effect of recording a business transaction should always leave the two sides of the accounting equation in balance.
Assume we are selling a device for 6000 and the company need to replace that device with a new device which is a bit more than the prior price say 7000.Then,how we can account this
procedure followed in government system of accounting in india
Ken Young and Kim Sherwood organized Reader Direct as a corporation; each contributed $49,000 cash to start the business and received 4,000 shares of stock. The store completed its
The t/p bill for this month was 200,the company will pay it next month what is the journal entry for this?
A user buys a new transponder for $20. What debit and credit entries would need to be made?
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decrease in owners equity decrease in owener''s equity
Because of the large number of accounting scandals that involved misclassification on the balance sheet, FASB has paid particular attention to classification of cash and receivable
ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account. Elaborate and explain why journal is necessary?
Q. What do you eman by Expenditure? Expenditure -- an expenditure takes place when something is attained for a business -- an asset isbought, salaries are paid and so on. An ex
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